Steel Export Tax Rebate: Difficult Situation Of Weak Leverage - Steel Export Tax Rebates - Hardware

Recently, the Ministry of Finance, State Administration of Taxation issued the official

web site "on the improvement of textile and electronic information products export tax rebate rate of notice", specifically from April 1, 2009 increased from textiles, garments, light industry, electronic information, Steel Non-ferrous metals, petrochemical products export tax rebate rate. The adjustments involve a total of 3802 tariff lines.

The adjustment involves 23 types of steel products, including high-speed steel, part of the hot-rolled stainless steel coil, cold rolled coil and other parts of the export tax rebate rate increased to 13%. In this regard, iron and steel industry experts Xu Xiangchun on "Modern enterprise reporting," said the move will alleviate some of yuan appreciation in the export of iron and steel enterprises are facing the pressure, but these products account for a small part of China's steel exports, while China's steel The main products exported boards, profiles and other export tax rebate rate was not adjusted.

The increased export tax rebate policy is to industrial restructuring and revitalization of an important part of planning. State Council executive meeting of the industry through restructuring and rejuvenation program will be adjusted in the proposed export tax rebate rate of some industries, which will increase the 631 light industrial products of export tax rebate rate of up to 13% export tax rebate rate of some of the goods will revert to 2007 July 1 level; textile and garment export tax rebate from 14% to 15%; electronic information products export tax rebates efforts will continue; non-ferrous metal products export tax rebate rate structure will be adjusted; steel industry is the implementation of appropriate and flexible policy of export tax and stable international market share.

Since August 2008, China's steel exports dropped sharply. In 2008, China's crude steel production reached 500 million tons, accounting for 38% of global production, domestic crude steel apparent consumption of 453 million tons, equivalent to the direct export of 60 million tons of crude steel, accounting for 15% of world steel trade. Customs statistics show that in February 2009 China's steel exports to 1.56 million tons, down 49.8%, decreased to 18.3% in January -2 month cumulative exports for the 3.47 million tons, down 52.1%. According to the China Steel Association on the 25 major and medium-sized export enterprises survey, in January about 60% of exports last year brought forward contract, a new contract this year, very little steel exports expected to decline 80%, than the original forecast of 50 % much more serious.

Current experience is a once world economic crisis, global steel consumption declined sharply, international trade also will decline. According to IMF forecasts, global trade in 2009 will be significantly decreased by 9%, the highest since World War II low. According to the European Union steel industry statistics, since the fourth quarter of last year, the demand for iron and steel industry in Europe began to collapse, orders decreased by 57%, the estimated first and second quarters of this year, apparent consumption will drop by 30% and 16%; capacity utilization decreased 30%, steel prices have dropped 50%. 7.2 million people are unemployed, or to short-term workers, the EU steel industry accounts for 17% of the total employees. U.S. steel industry hit by financial crisis, nearly 50% drop in price of steel, steel production capacity utilization and a marked decline. International steel prices continue to fall within the scope of China's market some products prices have been higher than international market prices, we still face the pressure of imports.

As steel demand shrinking of the world, recent governments have introduced protective trade policies. After entering the first half of 2009, the time, Russia has become the Turkey, India and the EU, the fourth by raising import tariffs on steel trade to take protective measures of economic entities, the recent European Youxiang China proposed new anti-dumping program U.S. economic policy to stimulate investment programs required to buy American products. International trade protectionism within the scope of serious flooding, trade friction will be frequent. These cases show that the export of China's future will be very difficult environment, the export situation are enormous.

Export tax rebate rate of steel can enhance the competitiveness of our country, but the short term can not increase the level of China's steel exports. As the international steel market prices continued to fall, China's steel exports, the basic loss of price advantage, coupled with the economic environment continued to deteriorate, iron and steel market uncertainties remain, the market demand has not yet started, the price of iron ore a long association determined, global steel overcapacity situation did not change, therefore, China's steel exports will continue to be limited.

by: gaga

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